The Longest Expansion On Record—What Comes Next

In just a few hours, on July 1, the US economic expansion will become the longest on record, entering its 121st month since the end of the 2009 recession (which according to the NBER ended in June of that year), and surpassing the previous record – the March 1991 – March 2001 expansion – which ended with the bursting of the dot com bubble.